Myanmar Morning News For August 9

Myanmar Morning News For August 9
Estimated Reading Time: 4 minutes |

Myanmar morning newsMyanmar expects double growth in US investment
INVESTMENT by American companies in Myanmar could be double in three years thanks to the government’s efforts to boost bilateral economic ties, said Aung Naing Oo, director general at the Directorate of Investment and Company Administration and secretary of Myanmar Investment Commission.
— Eleven Myanmar

Myanmar: Tet Lann Company to invest $100m more in jade garden project
Tet Lann Company Limited plans to invest an additional $100 million in its Jade Garden Project, with an aim to boost sales of gems in Myanmar, said a company official.
— Deal Street Asia

Draft Companies Law designed to remove obstacles for foreign investment
A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee.
— The Global New Light of Myanmar

Myanmar accounts for 1.6 percent of world rubber export
There are more than 90 rubber exporting countries around the globe, with Asian countries accounting for 80 percent of the world rubber export, while African countries export 8.5 percent.
— The Jakarta Post

Rice export increases this fiscal year: ministry
Myanmar has exported about 950,000 tonnes of rice and broken rice to other countries since by the end of July this fiscal year, according to the Ministry of Commerce.
— Eleven Myanmar

Chicken consumption drops 20pc in Mandalay
Chicken consumption has dropped 20pc in Mandalay Region and it has been affecting poultry businessmen although there is no link between H1N1 seasonal flu and chickens according to Mandalay Region Livestock Breeding Federation chair Dr. Kyaw Htin.
— Myanmar Times

How Genius Coffee cracked Myanmar’s premium export market
One of the main challenges facing Myanmar is developing its export trade. The majority of Myanmar’s exports are extractives and raw goods. But some of Myanmar’s most lucrative potential export markets need to produce more value-added high-quality goods.
— The Global New Light of Myanmar

British Chamber of Commerce Myanmar – Lucky number 3
Three years on, the Chamber has now moved to a fully operational office of seven full-time members of staff, residing in one of Yangon’s exciting retail and office spaces – Junction City. Its growth and development has been phenomenal in a short period of time growing to a network of over 240 companies, in addition to a wider and local network of over 150 local Myanmar companies, as well as a large network of UK contacts.
— Myanmar Times

Muse trade rises again after merchant accounts unfrozen
The Muse land port of entry saw trade values increase by US$100 million in first four months of the current financial year compared to same period of last year, said the merchants engaged in Muse border trade.
— The Global New Light of Myanmar

Three MOI-owned factories in Yangon to cooperate with private sector
Three factories under the Ministry of Industry (MOI) in the Yangon Region will cooperate with local and international private investors after inviting Expressions of Interest (EOI), Assistant Secretary U Aung Soe Ya of the MOI told The Myanmar Times.
— Myanmar Times

Grab expands full operations in Myanmar
Hooi Ling Tan, co-founder of Singapore-based Grab, said the company had gathered positive feedback during the period and was confident on the outlook for its Myanmar operations. “It has been only four months. But the growth has been large. We are here today to expand our services. Hopefully we can attract a lot more passengers,” she said at a press conference.
— Eleven Myanmar

State Counsellor says economic underdevelopment is because of lack of peace
State Counsellor Aung San Suu Kyi said on August 7 that economic underdevelopment in the country was because of a lack of peace.
— Mizzima

Feature photo Marcela Tokatjian
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Myanmar morning news by AEC News Today is your one stop source for Myanmar news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

 

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Sreypov Men

Sreypov Men

Journalism intern at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations.
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